Trade and Globalization and Gains of Free Trade - Essay Example
The various inter-governmental organizations are not as much effectual, and international businesses and entities continue to define stipulations. Governments’ role in controlling trade is still enormous and many governments are increasingly accepting it as the norm rather than the exception (Tung and Henry, 2009). Debates in recent times center whether globalization is diminishing trade or increasing it. Questions have been raised about the state the traditional roles and national governments sovereignty play over trade, and the effects that these portend in promoting fairness or inequality among countries. Others have zeroed on the balance of trade and trade payments the less developed countries, the developing countries vis-a-vis the developed world, and the focus on the glaring policy intervention differences between the global north and the global south.
